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around the world. president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take
for nearly every american. dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us. >> we'll start with a brief check on the markets. energy and metals are trading higher now, wtis up about 55 cents. brent crude up 65 cents. also want to check in on the gold price, as well. gold right now down about slightly under the flat line there, 1,-658. well below the 1,700 mark. the cme globex has been closed for christmas. it's going to reopen at 6:00 a.m. eastern time. that goes for treasuries and the foreign exchange market, as well. >> as for action in the overseas markets, the u.k. is closed today for boxing day as are some of the former brish colonies. in europe the dax down about there a
exchange." i'm kelly evans. >> and i'm louisa bojesen opinion. >>> president obama calls congress back to the capital. >>> investors are bracing for the final eurozone bond sale of the year. italy is expected to see solid demand when it sells up to 6 billion euros of longer dated paper today. >> and japan's finance ministers saying other countries have no right to lecture japan on its currency policy instead calling for the u.s. to seek a stronger dollar. >>> let's take a quick check of the u.s. markets. the dow, nasdaq and s&p 500 down four days in a row something on the average of 2% when it come to the nasdaq. we're seeing pointed arrows this morning, again. looking to shed three or four points at the open, similar small decline seen for the nasdaq and for the s&p. most are still well in the green for the year, although december will be a down month unless the nasdaq can turn it around quickly. european bourses, the ftse 100 just barely lower, though, not moving too much. the xetra dax is an underperformer, down about .3%. the cac 40 also a mirror image of what we saw yesterday. the
. will congress and president obama be able to pull together a fiscal cliff deal in time? we'll let you know, when we come back. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> well, of course, it isn't just the fiscal cliff we're counting down to. it's new year's eve and we want to say happy new year to everyone who is joining us or watching the program here today. earlier, we asked have you made any resolution, trade or otherwise, for 2013. we've got a couple at least. one here from jeff who says i resolve to invest in pets and pampering. petsmart people love pets and profit from it. that's true, actually. ac tweets to accomplish m
. i like the way he looked at obama care and handed it off to congress and the stimulus bill that he handed off to congress. this is the one person doesn't have to bowe to the god of reelection. everybody else is subject to the things you have already talked about, their home. what would lbj have done, blake? not this. >> i would just be frank with you. i think it's an odd gamut. because look, as i just said i'm skeptical about the ability of these two senate leaders to hammer out a deal that would satisfy both of their very competing, completely opposing imperatives and the next step the president said if you guys don't get a deal i'll ask harry reid to put a bill on the floor and we both know in order for that to happen mitch mcconnell will gra have to agree not to filibuster that and the president is daring mitch mcconnell not to engage in a filibuster and it would seem so embarrassing to the public that mcconnell was filibustering a deal for middle-class tax reform. i think that's a risky gamble. i guess the way he, the president, is thinking of it is either he gets that bill on
in the next 24/48 hours. >> this is a typical pattern of the president. outsourced obama care, outsourced the stimulus bill. left this to congress, to do all the major works he wanted, left it to them. now he's handing it over. he's the only western this afternoon who doesn't have to bow to the god of re-election, he, if anyone, could compromise, he doesn't have to worry about getting re-elected again. that's driving decision making on both sides when it comes to congress, yet, he doesn't lead. he hands it over to a man who hasn't passed a budget in years. >> at 3:00, we'll meet. and i'll tell congressional leaders, you come up with the package, tyler. >> the real tragedy, what it says about the quality of leadership in this country. they can't lead, seem unwilling to lead. that's what's distressing to individual voters and to the markets. >> thank you, joining us, and thank you, out there. we'll join "mad money" right after this break. and we'll see michelle right after that on a special "kudlow report." let's give thanks - for an idea. a grand idea called america. the idea that if you w
of it, having president obama back in washington today, and having congress still out, is not the right message to end. people right now feel that the republicans are the party of no, that they are the ones causing this, they are going to get blamed. the fact of the matter is, is that they are doing the fiscal responsible thing here and that's where they can hang their hat. is that they have to hold on for deficit spending, and they still have the debt ceiling to hold in their back pocket if they need to. >> so what would, if you had been advising boehner, what would you advise him to say yes to? >> well, you know, he has to push the president to get more spending cuts. >> well, he tried that. he tried that. the president's in the cat bird seat, though. the president can say no and the republicans still get blamed. >> and then he came up with this plan "b" is really where things went off the rail. because it just looked like a mess publicly. >> all right. keith, what -- i mean, i know that it's not your party, but what would you advise the republicans to do, if anything in the next two
to leave for obama to have a hastily called friday evening press conference saying, you know what, congress, you have ten days, you go work it out. it's doable. >> it's been an interesting year. of course, we started off so well, in terms of expectations for economic growth. we had an election this year, too. i think that's another thing that is sort of the key. we hit europe again as we had the last two years previously. but this last quarter, i think there's been a lot more optimism, even with the fiscal cliff sitting there, as sort of this potential, real roadblock at the end of the year. perhaps even too much optimism some would say. when you speak to ceos, there's still a lack of confidence, i would argue on the part of many of them, that you would like to see more of. perhaps a reflection of their concerns about the fiscal crisis that may weigh on our tax spending policies. >> we'll start over the next week or so talking about performers for the year. top s&p performer is pulty, which says how people are viewing how people will view what's driving the economy in the coming year. bank
awning on cnbc and cnbc.com. simon? >> hundred efs thousands of jobs are waiting for congress to act over the next few hours. who is in trouble? more "power lunch" in two minutes plus of course president obama speaking in about 12. this is cnbc. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. sfls welcome back to "power lunch." one of the big barometers today on how the market feels about the ofds going over the fiscal cliff is the defense sector. the defense sector index today in fact back up near the highs after that report from john harwood that they may be close to a deal when it comes to at least the tax portion of the fiscal cliff. but simon, we still have to deal with th
. >>> the deadline to avoid the fiscal cliff is just a week ago. on fri, president obama said he still hoped to work out a deal to keep taxes for 98% of americans from going up on the first of january. but both sides aren't talking and congress is in recess until after christmas. republicans aren't holding out any hope for a deal. >> i would hope that we would have one last attempt here to do what everyone knows needs to be done, which is a larger plan that really does stabilize the debt and get us moving in the right direction. >> if we get down to the end of this year and the oil only choice we have is to save taxes going up on the middle class, then i would support that. but i wish we had a comprehensive bill that dealt with spending and entitlement altogether. >> i believe the president senses a victory at the bottom of the cliff. >> some finger pointing. other republicans are now looking past new year's day to the next battleground. >> i will raise the debt ceiling only if we save medicare and social security and prevent this country from becoming greece. no more borrowing without addressing wh
now. >> merry cliff-mas, everybody. five days left and still no deal. president obama cutting short his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech. gadgets and gizmos. apple, facebook, microsoft all have big news. will 2013 be a lucky year for the sector? which tech titans might lead the new trends? simon hobbs is in at the new york stock exchange. >> good afternoon. when president obama arrives back in d.c., can he prevent america falling over the fiscal cliff? house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than o
't think it will go into february. i really don't. i think it will be the new congress, you know, coming in with all kind of bluster. this is the first thing they want to go done. ambition from the new congress. there's really not a whole lot -- i believe president obama thinks he can blame the republicans and history will be kind to him if he does. i don't know about a recession. i think we get about a 12-month deal. but there's still a lot of headwinds. that longshoreman's strike knot a small !mnw34>> welcome back pop "squawk box." dow looks like it would open down. it's gotten worse this morning. up about 67 points. s&p would be off over 6 points. the fass dak would be off over 14 points. >> and we weren't in the -- that down a few minutes ago. >> right. >> what did bob iaccino say? >> it might not have been him. >> is ed doing it? who is doing it? >> anybody who had any real money to trade would have traded it before the holidays. very, very thin markets right now. >> and i don't know if we're going to have a chance to talk about your -- >> yeah, we will have a chance t
. then at 8:00 a.m. eastern, senator ron johnson and bob corker. president obama issued a warning on "meet the press." >> on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting to pick up. >> but after it was all said and done, leaders on the senate floor couldn't get anything done, at least not yet. >> there's no single issue that remains an impossible sticking point. the sticking point appears to be a willingness and interest or frankly the courage to close the deal. i want everyone to know, i'm willing to get this done, but i need a dance partner. >> this morning, we've been trying to come up with some counteroffice to my friend's proposal. we haven't been able to do that. i've had a number of conversations with the presid
Search Results 0 to 12 of about 13